Overview: No data is published on the economy. Monaco, situated on the Mediterranean coast, is a popular resort, attracting tourists to its casino and pleasant climate. The state has no income tax and low business taxes and thrives as both a tax haven for individuals who have established residence there and for foreign companies that have set up businesses and offices. About 50% of Monaco's annual revenue comes from value-added taxes on hotels, banks, and the industrial sector; about 25% of revenue comes from tourism.

GNP: $NA, per capita $NA; real growth rate NA%

Inflation rate (consumer prices): NA%

Unemployment rate: full employment (1988)

Budget: revenues $386 million; expenditures $NA, including capital expenditures of $NA

Exports: $NA; full customs integration with France, which collects and rebates Monacan trade duties; also participates in EC market system through customs union with France

Imports: $NA; full customs integration with France, which collects and rebates Monacan trade duties; also participates in EC market system through customs union with France

External debt: $NA

Industrial production: growth rate NA%

Electricity: 8,000 kW standby capacity (1988); power supplied by France

Industries: pharmaceuticals, food processing, precision instruments, glassmaking, printing, tourism

Agriculture: NA

Aid: NA

Currency: French franc (plural--francs); 1 French franc (F) = 100 centimes

Exchange rates: French francs (F) per US$1--6.2503 (January 1989), 5.9569 (1988), 6.0107 (1987), 6.9261 (1986), 8.9852 (1985)

Fiscal year: calendar year

NOTE: The information regarding Monaco on this page is re-published from the 1989 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Monaco Economy 1989 information contained here. All suggestions for corrections of any errors about Monaco Economy 1989 should be addressed to the CIA.